NEW ALBANY, Ohio, June 23, 2021 / PRNewswire / – Lower, the millennial-focused real estate finance platform with more than 16,000 reviews with a five-star average, raised $ 100 million in its Series A funding cycle, led by venture capital firm Accel. Lower, which is already profitable and growing rapidly, plans to use the funds to expand its product line and accelerate its growth.
It is one of the largest fintech companies that started raising a Series A, with several hundred million dollars in revenue, and the largest Series A round ever raised by Ohio business.
âMy co-founders and I created this business because we saw a need in this industry to make the process easier for consumers. We are all actively involved in growing the business and knew that the next step in our journey was would be accelerated by bringing in a leading company like Accel, âsaid co-founder and CEO Dan Snyder. âMore investment means faster growth and more impact. Homeownership is the greatest creator of wealth for Americans and Accel’s history of supporting seed companies and investing in them means we can help more people get there faster.
Accel Partner John locke joins Lower’s board of directors.
Locke said, âDan and the team at Lower quietly created one of America’s most exciting fintech companies. Lower has a unique opportunity to break down barriers to property. They have an established growth path, with more $ 300 million In income. We are delighted to partner with them as they continue on this journey. “
Lower’s mission is to simplify the traditionally arduous task of buying or refinancing a home. Their platform differentiates itself from other digital lenders by taking a holistic approach to the homeownership journey across multiple channels. Consumers can go online or download the app and find a one stop shopping experience where they can save for a home, get a great mortgage, and protect their home through its insurance marketplace. Those who prefer to work with a local real estate agent or builder can use their network of distribution partners and expert advisors.
The funding announcement follows the launch of Lower’s mobile app with the new deposit account, the first of its kind, called “HomeFundâ¢. “The interest bearing FDIC insured deposit account with a generous annual percentage return of 0.75%1 is designed to help consumers move forward on their dollar-for-dollar home buying journey in “HomeCashâ¢“reward until the first $ 1,000 checked in.
Lower and the Columbus Crew also recently announced that the Crew’s new football-specific stadium is the Lower.com Field after the original MLS signed a long-term partnership that includes the naming rights for the center site. city.
With more services in the works and an aggressive roadmap for adding new platform features, Lower continues to challenge the status quo when it comes to buying and homeownership. The transaction is subject to regulatory approvals and other customary closing conditions.
The company is based in Columbus, Ohio and actively recruiting.
About the bottom
Lower’s mission is to help people build wealth through homeownership. The fintech company, based in Columbus, Ohio, offers a real estate finance platform that allows customers to deposit money and save for a home, get a mortgage to buy a home, refinance an existing mortgage, and get insurance to protect their house. This digital one-stop-shop lowers the barriers to homeownership by helping clients across the country no matter where they are on their homeownership journey. Those who prefer to work with a local real estate agent or builder can use their network of distribution partners and expert advisors. Lower is an FNMA / FHLMC / GNMA Salesperson-Repairer who has funded billions of loans and obtained over 16,000 reviews with a five-star average in less than two years. They work with more than 35 major insurers nationwide, including Nationwide, Liberty Mutual, and Allstate. Lower was named Best Place to Work by the CEO of Columbus and a Nationwide Top Workplace by Glassdoor and Fortune. Lower was founded by Mike baynes, Robert tyson, Grayson Hanes, Chris Miller and Dan Snyder. To learn more, visit www.lower.com.
Lower is an equal housing lender. NMLS ID # 1124061. Visit nmlsconsumeraccess.org for licensing information.
Accounts are held with Evolve Bank & Trust, member of the FDIC.
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